The Gap Balance Sheet

Financials in millions USD. Fiscal year is March - February.

Millions USD. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 1, 2025	Feb '25 Feb 1, 2025	Feb '24 Feb 3, 2024	Jan '23 Jan 28, 2023	Jan '22 Jan 29, 2022	Jan '21 Jan 30, 2021
Cash & Equivalents	2,262	2,335	1,873	1,215	877	1,988
Short-Term Investments	255	253	-	-	-	410
Cash & Short-Term Investments	2,517	2,588	1,873	1,215	877	2,398
Cash Growth	13.43%	38.17%	54.16%	38.54%	-63.43%	44.98%
Receivables	-	301	289	340	399	363
Inventory	2,459	2,067	1,995	2,389	3,018	2,451
Prepaid Expenses	-	24	31	106	110	104
Restricted Cash	-	-	-	32	-	4
Other Current Assets	664	223	207	535	761	688
Total Current Assets	5,640	5,203	4,395	4,617	5,165	6,008
Property, Plant & Equipment	5,854	5,736	5,681	5,861	6,712	7,058
Goodwill	-	207	207	207	207	109
Other Intangible Assets	-	69	72	81	90	61
Other Long-Term Assets	876	670	689	620	587	533
Total Assets	12,370	11,885	11,044	11,386	12,761	13,769
Accounts Payable	1,545	1,488	1,349	1,320	1,951	1,743
Accrued Expenses	1,067	518	434	309	560	471
Current Portion of Leases	629	632	600	667	734	831
Current Income Taxes Payable	38	53	39	50	25	34
Current Unearned Revenue	-	273	337	354	345	231
Other Current Liabilities	-	292	337	556	462	574
Total Current Liabilities	3,279	3,256	3,096	3,256	4,077	3,884
Long-Term Debt	1,491	1,490	1,488	1,836	1,484	2,216
Long-Term Leases	3,396	3,353	3,353	3,517	4,033	4,617
Other Long-Term Liabilities	557	522	512	544	445	438
Total Liabilities	8,723	8,621	8,449	9,153	10,039	11,155
Common Stock	19	19	19	18	19	19
Additional Paid-In Capital	81	146	113	27	43	85
Retained Earnings	3,499	3,039	2,420	2,140	2,622	2,501
Comprehensive Income & Other	48	60	43	48	38	9
Shareholders' Equity	3,647	3,264	2,595	2,233	2,722	2,614
Total Liabilities & Equity	12,370	11,885	11,044	11,386	12,761	13,769
Total Debt	5,516	5,475	5,441	6,020	6,251	7,664
Net Cash (Debt)	-2,999	-2,887	-3,568	-4,805	-5,374	-5,266
Net Cash Per Share	-7.83	-7.52	-9.49	-13.09	-14.03	-14.08
Filing Date Shares Outstanding	371.92	374.9	373.51	366.21	369.78	374.85
Total Common Shares Outstanding	372	374	372	366	371	374
Working Capital	2,361	1,947	1,299	1,361	1,088	2,124
Book Value Per Share	9.80	8.73	6.98	6.10	7.34	6.99
Tangible Book Value	3,647	2,988	2,316	1,945	2,425	2,444
Tangible Book Value Per Share	9.80	7.99	6.23	5.31	6.54	6.53
Land	-	1,145	1,140	1,103	1,416	1,452
Machinery	-	2,816	2,805	2,833	2,789	2,739
Construction In Progress	-	169	177	177	344	165
Leasehold Improvements	-	2,178	2,197	2,270	2,487	2,627

Source: S&P Global Market Intelligence. Standard template. Financial Sources.